Southern Delaware 2014 Real Estate Market Update

Sussex County, DE - January 2014 Sales at $61,418,158 were up 31% over January of 2013 in Sussex County! Single family homes were up 27% over the same period last year. Condos and Townhomes were up 42% over the prior January. Sales from 2012 to 2013 in January were flat a year ago so this is a big improvement.

Commenting on this new information, Gail Alm of Fairway Independent Mortgage in Rehoboth Beach said, Even though the weather has been a factor, these are very strong numbers for January 2014 and showing a continuing trend of recovery to our very own housing market. The average single family home price sold last month was up 17% over January 2013 at $301,054. This shows that average home prices are also on the rise after having been flat the prior January. In Sussex County last month there were 7 real estate transactions every single day! Properties are selling!

An article posted by James Diehl of the Sussex County Association of Realtors on home sales in Sussex County said, For the third consecutive year, the number of home sales in Sussex County has increased indicating the real estate recovery in Delawares southernmost county is continuing to gain momentum. The for sale inventory level is the lowest its been in Sussex County in more than two years, another positive sign for the long-term strength of the real estate market in southern Delaware.

The Sussex County Association of Realtors (SCAOR) is a resource for the public, as well as a recognized advocate for property rights and property owners in Sussex County. To read more about issues related to Sussex Countys real estate industry, visit SCAORs website at www.scaor.com.